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Executive overview
Key findings
9,520,924: people served with water through 1,350,585 service connections (FY2025)
PHP 40.18 billion: consolidated revenue in FY2025, up from PHP 30.71 billion in FY2023
PHP 28.23 billion: group capital expenditure in FY2025
380,254: sewer connections in FY2025, up from 318,385 in FY2024
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Buyer relevance
Who the report is for
Analysts and lenders new to the account
Get the FY2021-FY2025 revenue, EBITDA, debt and covenant picture in one place, including the removal of the parent company's debt service coverage covenant in October 2024.
Suppliers and contractors
See which plants are operating and which are pending, from the 110 MLD Cardona plant to the 220 MLD Kaysakat plant, and where FY2025 capital spending of PHP 28.23 billion went.
Consultants and policy staff
Use the tariff, customer, network and wastewater tables as a briefing base for work on Metro Manila's East Zone.
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Decision scope
Questions answered
How large is Manila Water?
It served 9,520,924 people through 1,350,585 water service connections in FY2025, and the East Zone produced 79% of consolidated revenue in FY2024.
How much debt does it carry?
Long-term debt was PHP 129.90 billion at end-2025 (calculated), up from PHP 106.18 billion, and the parent company's debt-to-equity ratio was 1.09.
What do East Zone customers pay?
From January 2026 the sewered all-in tariff is PHP 85.06 per m³ and the unsewered tariff PHP 67.98 per m³.
How is wastewater service growing?
Sewer connections rose from 318,385 in FY2024 to 380,254 in FY2025, and coverage reached 30% by December 31, 2025.
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Inside the report
Inside the complete report
Executive Overview
Utility and Service Mandate
Water Resources and Supply
Infrastructure and Treatment
Networks and Assets
Wastewater and Resource Management
Financial Position
Investment and Major Projects
Tariffs and Customer Context
Energy and Sustainability
Governance and Regulation
Forward Developments
Key Intelligence Summary
Source Register
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Public preview
What to watch next
Financial Position
Third-quarter and full-year 2026 results; first-half 2026 net income was PHP 8.47 billion, up 6%.
Investment and Major Projects
Full-year 2026 capital expenditure; any Kaliwa financing agreement.
Tariffs and Customer Context
The Regulatory Office's 2028 rebasing timetable; FY2025 satisfaction score.
Forward Developments
Start-up announcements for Kaysakat and East Bay Phase 2; any Kaliwa co-financing agreement.
Financial Position: revenue, EBITDA and East Zone results for FY2021-FY2025, with the end-2025 balance sheet.
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Included
What you receive
The complete PDF report: 12 pages, 14 sections, 18 tables and a register of 19 sources.
This edition
November 2026, First edition.
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Evidence & method
Evidence and method
The profile draws on Manila Water's integrated reports, ESG performance data books and audited financial statements for FY2020 to FY2025, MWSS tariff decisions, and Philippine press reports on projects, tariffs and financing published up to October 2026.
Sources
19 sources, listed in the report's source register. Evidence current to 3 November 2026. Principal data periods: FY2025 audited results and integrated report (year ended December 31, 2025); FY2016–FY2024 annual reports and ESG data books; first-half 2026 results; tariffs and project status as of November 3, 2026. Currency is Philippine pesos (PHP) unless stated as US dollars (US$)..
Evidence boundaries
This report uses authoritative source material available at the stated research cutoff. It distinguishes published facts, calculated values and analytical interpretation. No independent modelling is performed. Forward-looking analysis reflects published plans, documented trends and stated uncertainties. It does not constitute legal, financial, investment or engineering advice.
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Lead analyst
Robert C. Brears
Founder, Our Future Water Intelligence
Robert C. Brears is a water-security specialist and author whose work examines utility governance, infrastructure investment, climate resilience and long-term water-system change for executive and policy audiences.
- Decision-focused utility intelligence
- Published water-policy author
- Evidence-grounded system analysis
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Buyer FAQs
Before you purchase
Who can use the report?
Licensed for internal use within one purchasing organization. The PDF and its contents may be shared with colleagues within that organization. External redistribution, resale and public publication are prohibited without permission.
How is the report delivered?
The PDF is available to download immediately after confirmed payment, through our secure delivery system.
Can my organization buy wider access?
Institutional purchasing: For invoice enquiries, multi-organization licensing or broader access requirements, contact Our Future Water Intelligence.
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Utility Intelligence Profile: Manila Water Company, Inc.
- Format
- Length
- 12 pages
- Edition
- November 2026, First edition
- Price
- USD 99
11
Report details
Publication details
- Publisher
- Our Future Water Intelligence
- Report family
- Utility Intelligence Profile
- Edition
- November 2026, First edition
- Format
- Length
- 12 pages
- Reference
- OFW_EXT_MANILA_WATER_COMPANY_INC_UTILITY_INTELLIGENCE_PROFILE_2517a97e975b
- Evidence current to
- 3 November 2026
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